Regulatory Alerts2021-07-06
Directive No. 08/DMA/2021 of July 6
The Assets Markets Department of the National Bank of Angola issues this directive to adjust key interest rates for permanent liquidity facilities and the base rate, setting them at 15%, 20%, and 25% per annum respectively. Following the Monetary Policy Committee's July 2, 2021 decision, the directive formally establishes these rates for liquidity absorption and lending facilities while clarifying interpretative ambiguities. It immediately revokes Directive No. 04/DMA/2021 and enters into force upon issuance to ensure consistent monetary policy implementation.
GOVERNOR DIRECTIVE NO. 08/DMA/2021 ORIGIN: ASSETS MARKETS DEPARTMENT (DMA)
DATE 06/07/2021 SUBJECT: FINANCIAL SYSTEM
- BNA Base Interest Rate (BNA Rate)
- Fa - Permanent Lending (FCO) and Liquidity Absorption Facilities – Notice No. 11/2011, dated October 20 Whereas it is necessary to adjust the Interest Rate of the Lending and Absorption Facilities, regulated under Notice No. 11/2011, dated October 20; In accordance with the decisions of the one hundredth ordinary session of the Monetary Policy Committee (MPC), held on July 2, 2021; This Directive serves to establish the following:
- The BNA Base Interest Rate (BNA Rate) is set at 20% (twenty percent) per annum;
- The Interest Rate of the 7-day Liquidity Absorption Permanent Facility (FAL 7) is set at 15% (fifteen percent) per annum;
- The Interest Rate of the Liquidity Lending Permanent Facility (FCO) and the reference rate for Rediscount operations is set at 25% (twenty-five percent) per annum.
- Doubts and omissions arising from the interpretation and application of this Directive are clarified by the Assets Markets Department.
- Directive No. 04/DMA/2021, dated April 1, is hereby revoked.
- This Directive enters into force immediately. Luanda, July 6, 2021. ASSETS MARKETS DEPARTMENT
Tânia Patrícia de Oliveira Mendes Lopes -Director-
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